True North Advisors LLC Grows Stock Holdings in BlackRock, Inc. (NYSE:BLK)

True North Advisors LLC lifted its position in BlackRock, Inc. (NYSE:BLK) by 9.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 480 shares of the asset manager’s stock after purchasing an additional 42 shares during the quarter. True North Advisors LLC’s holdings in BlackRock were worth $456,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of BlackRock by 11.1% in the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock worth $3,630,127,000 after buying an additional 435,358 shares during the period. Fisher Asset Management LLC lifted its stake in shares of BlackRock by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,015,337 shares of the asset manager’s stock valued at $1,636,052,000 after acquiring an additional 47,128 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after acquiring an additional 46,728 shares during the period. Finally, Legal & General Group Plc grew its position in BlackRock by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after acquiring an additional 22,311 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on BLK shares. StockNews.com initiated coverage on BlackRock in a research note on Friday, October 4th. They set a “hold” rating for the company. Wells Fargo & Company started coverage on shares of BlackRock in a report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price target on the stock. TD Cowen lowered their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $943.93.

BlackRock Stock Up 0.9 %

BLK stock opened at $949.07 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $960.74. The stock has a market capitalization of $141.03 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.05 and a beta of 1.30. The business has a fifty day moving average price of $893.10 and a 200-day moving average price of $828.30.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm posted $9.28 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that BlackRock, Inc. will post 41.37 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were issued a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. Corporate insiders own 0.90% of the company’s stock.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.